Best Practice
Ambassador is committed to adopting and leading industry best practice.
Our business model is to represent in Australia and New Zealand, a select number of institutional grade investment management groups that have passed our extensive due diligence process.
Our marketing activities are directed solely towards professional and wholesale investors. Our prospects expect, and receive, the highest levels of professionalism and integrity from Ambassador and our investment managers.
Since Ambassador was established in 2004 we have, amongst other initiatives, implemented the following:
Attained our Australian Financial Services Licence (AFSL 331717)
Neither the Corporations Act 2001, nor the Australian regulator, the Australian Securities and Investment Commission (ASIC), is definitive in relation to the need for a purely institutional third party marketing business such as Ambassador, to apply for a licence. However, Ambassador believes strongly that attaining an AFSL is industry best practice given the obligations and scrutiny associated with having a licence. A copy of Ambassador's AFSL is available on request.
For further information please refer to the ASIC website on www.asic.gov.au.
Compliance and audit committee
Ambassador has established a compliance framework to monitor the business's compliance with its regulatory obligations under its AFSL. All employees are required to be aware of their obligations in accordance with their compliance obligations and practices. Compliance monitoring is conducted to ensure that Ambassador continues to adhere to applicable operating practices, policies and procedure. The relevant Board and Committee receives reporting to enable oversight of adherence to obligations.
Disclosure policy on compensation
Ambassador will, on request, fully disclose to all prospects and investors any compensation paid to it by its investment managers. Any payments to Ambassador are made by the investment manager from the management fees they charge the investor, and are not added to the fees paid by the investor.
As a general rule, fees are paid by the investment manager to Ambassador for the period of time the investor remains invested with that manager. This maintains an alignment of interests between the investor, investment manager and Ambassador.
Ambassador does not remunerate, or pay commissions, to other parties, nor does it receive compensation, or commissions, other than those due from our investment managers.
